LIC, or Life Insurance Corporation of India, is a major player in the stock market. They own a number of penny stocks, which are stocks that trade for less than Rs. 10. While these stocks may seem risky due to their low price, they can also offer high returns if chosen wisely.
Here are the top 5 penny stocks owned by LIC:
1. Jyothy Laboratories Ltd: This company is known for its household products like fabric care and personal care items. LIC has a significant stake in this company, indicating their confidence in its potential for growth.
2. Ruchi Soya Industries Ltd: A major player in the edible oil industry, Ruchi Soya has seen steady growth in recent years. LIC’s ownership of this penny stock suggests that they see promise in its future performance.
3. Federal Bank Ltd: Despite being classified as a penny stock, Federal Bank is a well-established player in the banking sector. LIC’s investment in this stock could indicate their belief in the bank’s ability to weather market fluctuations.
4. Nava Bharat Ventures Ltd: This company operates in the power and agribusiness sectors. LIC’s ownership of this penny stock could be a sign of their confidence in its potential for growth in these industries.
5. The Ramco Cements Ltd: As a leading player in the cement industry, Ramco Cements has a strong presence in the market. LIC’s ownership of this penny stock suggests that they see potential for growth in the company.
While these penny stocks owned by LIC may seem appealing, it is important to remember that investing in penny stocks carries a higher level of risk. It is advisable to conduct thorough research and seek advice from financial experts before considering investment in these stocks.